An industrial strategy to diversify Bahrain’s economy will be unveiled in 2016 as the country’s revenues drop by 70% due to oil prices, a minister confirmed
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Oman’s Ministry of Oil and Gas to trade in Dubai
The Dubai Mercantile Exchange the Omani ministry has become the first customer of its ‘DME Auctions’ platform
GE Oil & Gas opens Saudi facility
Firm inaugurates first-phase expansion of ‘Made in Saudi’ advanced manufacturing facility in Dammam
Algeria to focus next year on mature oilfields
Country to seek foreign partners with the technology to explore offshore opportunities
Dana Gas plans more cost cuts due to low oil price
UAE-based company reports net loss of $9mn in Q3 2015, from a profit of $38mn in Q3 2014
Oil and gas strike called off in Oman
Trade unions that had planned the strike on the Omani National Day on November 18 have called it off after receiving assurances from authorities
Iraq overtakes Saudi in oil export to Europe: IEA
Deliveries of 1mn bpd to Europe during July and August raised Iraq’s market share to 17% – allowing it to overtake the kingdom
Oil price unlikely to improve before 2019- expert
Prices could take up to four years to reach $70 or $80 a barrel
Oil exploration investments suffer 20% decline
Investment in new projects has fallen to $130bn during 2015
Khurais oilfield expansion to slow down
Saudi Aramco puts brakes on plans to raise production due to budgetary pressure